Industry trends/analysis
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Leverage Document AI to Automate Manual Invoice Processes
Technology can reduce the manual human hours to complete tasks by a significant amount and allow the companies to grow and scale without additional headcount.
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Commercial Clean Vehicle Tax Credit
It’s been over a year since the Biden Administration’s Inflation Reduction Act was enacted, and we’re starting to see some of the programs starting to take shape. One of the programs that could impact the transportation industry is the Commercial Clean Vehicle Credit under IRC 45W. This is a credit where businesses and tax-exempt organizations […]
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Transportation Companies are Struggling
Authored by Tony Faust and Andy Bollman As the 3rd quarter came to a close recently, it’s safe to say that the last few quarters have been interesting for transportation companies. We’ve seen soft freight rates, rising costs, bankruptcies, carriers closing their doors, high interest rates and companies struggling to manage cash flow needs. Economists […]
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IRS Issues Per Diem Rates for 2024
This week, the IRS issued Notice 2023-68 announcing the special per diem rates for 2024 effective October 1, 2023. After rates have increase the last couple years, rates are set to remain at $69 for travel in the continental United States and $74 for travel outside the continental United States. While the per diem rates […]
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The Cost to Maintain a Fleet is Increasing
While this doesn’t come as a complete shock given where the economy and inflation still is, a recent study by the American Trucking Assocation’s Technology & Maintenance Council and Decisive Inc. showed a year over year increase of 8% of parts and labor expense when comparing the first quarter of 2023 to the first quarter […]
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The Potential of AI and Machine Learning
Authored by Troy Hollings and Brandon Knight. It times like these in the transportation and logistics industry that we really begin to look for opportunities to reduce our costs. Times when rates and demand are down, and we begin to look at our people, processes, and technologies for things that will directly impact the bottom […]
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Navigating an Uncertain Labor Market
The labor market continues to be uncertain as we enter 2023. What can companies do to maximize retention and acquisition? The trucking industry will likely see a continued slowdown in driver recruiting as demand continues to normalize in 2023. Growth positions will slow but there will still be demand for key, professional positions. Companies will […]
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A Growing Cyber Concern in Transportation
When we think transportation, we often think of people or property being moved around with big pieces of equipment. Looking deeper, transportation has become a part of the digital world. Not only do vehicles have electronic control modules but also electronic logging devices collecting mountains of data. Drivers are connected via apps and their smartphones. […]
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Cash is Power – Are you Putting Yours to Use?
Gone are the days of having cash and other liquid investments on our balance sheets earning a fraction of a percentage point. As many of our readers are experiencing, and an observation we’re noticing with the majority of our clients, is that cash reserves in transportation & logistics businesses are at an all time high. […]
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Push to Repeal Federal Excise Tax
Over the last few years, there has been a lot of industry-led attempts to repeal the 12% federal excise tax (FET) on heavy-duty trucks. Last week, there was another push from the American Truck Dealers, American Trucking Association, and Zero Emission Transportation Association as they sent a letter to congressional leadership. The FET was originally […]